SEC extends XBRL test to filings by mutual funds
Aug 17, 2005
The US SEC has expanded its voluntary program of filings using eXtensible Business Reporting Language (XBRL) to include investment companies (mutual funds).
XRBL turns text-based information into documents that can be retrieved, searched, and analysed through automated means. Under the (PDF 31k), mutual funds will be able to file XBRL exhibits to their annual report to shareholders and quarterly statement of portfolio holdings using the US GAAP Investment Management classification system. Classification systems for commercial and industrial companies, banking and savings institutions, and insurance companies are already available under the voluntary SEC program. The US PCAOB has developed (PDF 60k). There is an IFRS XBRL Taxonomy.